China will significantly raise the retail prices of gasoline and diesel, the country's top economic planner said Saturday.
The price of gasoline will go up by 345 yuan per ton, while that of diesel will increase by 330 yuan, according to the National Development and Reform Commission.
According to agency calculations, the new price will be:
92 gasoline will increase by 0.27 yuan per liter,
95 gasoline will increase by 0.29 yuan per liter,
No. 0 diesel oil is increased by 0.28 yuan per liter.
According to the current estimate, for private cars, it will cost 13.5 yuan more to fill up a tank of gasoline after the price adjustment according to the available tank capacity of 50L.
The international crude oil prices may still go up in the short term supported by global economic growth and rising demand, said the NDRC.
Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per ton and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.
